H&M to open seventh store in New Zealand
The store, which will be located at Chartwell Shopping Centre in Hamilton, will feature H&M apparel and accessories for men, women, youth, kids and baby.
H&M, which entered the New Zealand market in 2016, has recently announced it will open its fifth store in the country in Tauranga Crossing, Bay of Plenty, on April 4.
The retailer opened its first store at the Sylvia Park mall. Other stores are located in Commercial Bay in Auckland, The Crossing in Christchurch and Queensgate in Wellington.
The Swedish fashion retailer also announced recently it will open a third Auckland store which will be located at the Botany Town Centre and will be launched in autumn 2019.
Last month, H&M posted a drop in profits for the year ending November 30, blaming the decline on its investment aimed at boosting its online business.
The world’s second largest clothing retailer embarked on a transformation program last year, investing heavily in logistics and digital technology aiming to improve shopping experience and product selection. This includes an upgrade in its mobile app, faster deliveries and the roll-out of click-and-collect.
In the last three months of its financial year, the company spent around 450 million Swedish crowns on logistics and technology, including resolving problems it flagged earlier in 2018.
H&M chief executive Karl-Johan Persson said the upgrade in their logistics systems inevitably resulted in increased costs but will lead to a range of improvements for their customers.